Circle Internet Group beats Q2 earnings expectations
Following its IPO, Circle reported revenue of $658.1 million in Q2—up 53% year-over-year—even though it posted a large loss due to IPO-related noncash charges. The USDC stablecoin’s circulation jumped 90% year-over-year to $61.3 billion as of June 30, reaching $65.2 billion by August 10. The company announced a blockchain network named "Arc" and expanded its Payments Network partnerships.
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